Considered amongst the most advanced startup ecosystems in the world, Israel is now quickly emerging as a leading blockchain hub.
Israel’s development of cutting-edge technologies in software, communications and the life sciences have evoked comparisons with Silicon Valley[1]. Nicknamed the Startup Nation, Israel currently has the highest density of startups per capita in the world, ranks 10th in the 2018 Bloomberg Innovation Index[2], and is first in the world in expenditure on research and development as a percentage of GDP[3].
“Israel boasts a warm, receptive, and supportive environment for startups,” Yaniv Altschuler, co-founder and CEO of Endor[4] and a researcher the Massachusetts Institute of Technology (MIT), told CoinJournal.
“The result of the vibrant and healthy ecosystem is that an extraordinary amount of successful tech companies has been founded in Israel, such as ICQ, Wix, and Waze. […] The culture fosters innovative thinking, where people are always being pushed to invent the next way of making life easier, faster, and more efficient.”
Israel’s rich tech history and its prowess in fields such as cryptography, fintech and cybersecurity, as well as the favorable and warm regulatory environment, have been crucial in Israel’s emergence as a top blockchain and crypto hub. Additional, Israel has a remarkable number of scientists and engineers, all of whom are used to an extremely collaborative culture and have a keenness in entrepreneurship.
As of the beginning of the year, Israel had 88 startups in the blockchain and crypto field. A significant 39% were in fintech, with 22% in enterprise and cloud computing, and another 21% in social media. 13% of these companies are in infrastructure and protocol development, according to Daniel Peled, president and
